Kilroy Realty Corporation has announced the pricing of its operating partnership's underwritten public offering of $400 million in aggregate principal amount of 5.875% senior notes due 2035. These notes will pay interest semi-annually at a rate of 5.875% per annum on April 15 and October 15, beginning April 15, 2026, and will mature on October 15, 2035. The notes are being offered at a price equal to 98.991% of their principal amount, with a yield to maturity of 6.006%. The offering is expected to close on August 8, 2025, subject to customary closing conditions. The net proceeds, estimated to be approximately $393 million after deducting underwriting discounts and expenses, are intended for debt redemption or repayment, including the operating partnership's 4.375% senior notes due 2025, and potentially for other general corporate purposes. The full prospectus can be viewed on the SEC's website at https://http://www.sec.gov.
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